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ON DEMAND: Venezuela: Cryptocurrency, Sanctions, and the Current Legal Climate

Credit: 0 Credit Hours
Run Time: 109 Minutes  
**This is a previously recorded program, originally recorded on March 26, 2019.
Join us for an informative lunch hour on the latest developments in Venezuela from a legal and economic perspective.  In early 2019, Venezuela has already survived tumultuous events and the situation is rapidly evolving. In February 2018, Venezuela launched a cryptocurrency, the petro, in hopes of circumventing U.S. financial sanctions and resurrecting the country’s economy.  Soon after, the United States Department of the Treasury warned that participating in Venezuela’s proposed initial coin offering for the petro could violate U.S. sanctions against Venezuela.  Although the petro never took off, other digital currencies are in use, enabling local businesses to own, transact, and store currency in a climate of hyperinflation.  Further, the U.S. Department of the Treasury Office of Foreign Assets Control (OFAC) has issued corresponding guidance that lays the groundwork for potential sanctions related to digital currency transactions more generally.  In 2019, sanctions against Venezuela have increased, effectively halting U.S. purchases of oil from Venezuela.  Speakers will offer insight into the current legal climate, the sanctions regime, and the practicalities of cryptocurrency in Venezuela.
Sponsored by: Inter-American Affairs Committee of the D.C. Bar International Law  Community
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  • James G. Gatto, Partner, Sheppard Mullin LLP
  • Greta Lichtenbaum, Partner, O'Melveny LLP
  • Moises Rendon, Associate Director and Associate Fellow - Americas Program, Center for Strategic International Studies
  • Ignacio Jauregui, Jauregui Partners (Moderator)
On Demand Registration Fees: $20 Law Student Community Member; $25 Sponsoring/Related Community Member; $40 D.C. Bar Member; $40 Government/Nonprofit; $60 Non-member
Please select Individual Registration to register.

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